The bank lobbyists, it turns out, missed one. They and their congressional allies were able to gut the Volcker Rule, the Lincoln Amendment, and almost everything else that could have had an effect on the industry.
A voter recently asked me: "Where's my lobbyist?" And she's right -- this broken system is allowing the voices of millions of Coloradans and people across the country to be drowned out by special interest lobbyists.
J.P. Morgan's Chief Economist James Glassman recently indulged in a vaguely worded assault on financial reform, arguing that Congress is about to ruin the economy by cracking down on Wall Street. Don't believe a word of it.
If Citigroup is the 'poster child' for all that went wrong in the commercial banking side of the financial industry since 1999, then, Goldman Sachs is, the 'poster child' for the investment banking side.